Ferrari and Renault have both issued press releases threatening to leave Formula One next year in protest against new FIA regulations that would force them to cap team expenditure at approximately A$80 million.
The Ferrari threat would see its uninterrupted participation in the World Championship come to an end after almost 60 years as the only team to have remained since the sport’s inception in 1950.
Renault’s statement says the decision of the Fédération Internationale de l’Automobile (FIA) to introduce two
sets of Formula One technical regulations for the 2010 Formula One season has caused the Renault Group to reconsider its entry in next year’s FIA Formula One World Championship.
The president of the ING Renault F1 Team, Bernard Rey, commented: “Renault has always considered Formula One as the pinnacle of motor sport and the perfect stage to demonstrate technical excellence. We remain committed to the sport, however we cannot be involved in a championship operating with different sets of rules, and if such rules are put into effect, we will be forced to pull out from next season.”
The new regulations are aimed at reducing the overall cost of competing in Formula 1 in order to make the sport more affordable following the withdrawal of Honda before the 2009 season.
If these indispensable principles are not respected and if the regulations adopted for 2010 will not change, then Ferrari does not intend to enter its cars in the next Formula One World Championship.
Ferrari trusts that its many fans worldwide will understand that this difficult decision is coherent with the Scuderia’s approach to motor sport and to F1 in particular, always seeking to promote its sporting and technical values.
This comes as manufacturers cull their motor sport involvement across all disciplines in the wake of the global economic downturn.
Although this is not the first time Ferrari has threatened to quit Formula One and it is unlikely this will eventuate considering the brand’s reliance on the sport to showcase its performance pedigree.